Chrysler’s Press Takes a Spin — in a Fiat

By

Alex Kellogg

Apr 8, 2009 10:46 am ET

At the New York auto show, Chrysler gathered reporters this morning for an unveiling of the redesigned Jeep Grand Cherokee, but Vice Chairman Jim Press arrived on stage in a different vehicle — a Fiat 500.

Associated Press

Jim Press, president and vice chairman of Chrysler, steps out of a Fiat 500.

Rather than get right to the highlights of the new Grand Cherokee, Press talked for several minutes about Chrysler’s proposed alliance with Fiat.

Press cautioned that company was only promoting the deal with Fiat – not announcing the consummation of one (a nod to a recent communications gaffe by Chrysler: it issued a statement recently saying it had a deal with Fiat and then had to scramble to clarify it still only has a framework, not a finalized alliance).

Press rode in the 500, one of a number of Fiat models Chrysler hopes eventually to build and sell in the U.S., from behind a door in front of a platform the 2011 Cherokee was later displayed on.

The surprise appearance of a Fiat at a Chrysler event underscores how focused the auto maker is on closing a deal with Fiat. Chrysler’s leadership has been pushing for a government-backed alliance for months. It has been told it is not viable without the merger, and has been living on $4 billion in government loans since January.

“We’re really pleased President Obama last week endorsed our proposed marriage,” said Press. The 500 “shows you the breadth of our portfolio and the possibility this merger could have.”

He added that the Fiat deal is the company’s “sole focus” right now.

Press also said the remainder of the month should be long enough to close the deal outside of bankruptcy. But “obviously you can’t rule anything out,’ he said.

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